The Hershey Chocolate Factory Was Almost Taken Over Last Night But The Board Of Directors Turned It Down

07.01.16 | Sarah Harnisch, Traci Lynn Woolsey

The Pennsylvania chocolate maker rejects a $23 billion preliminary offer by Illinois-based Mondelez International.

The merger of two of the world's top five candy makers would have created the world's largest candy maker.

Mondolez, the maker of Oreo Cookies and Cadbury Eggs, had trouble winning over Hershey's controlling shareholder-- the Hershey Trust.  

The Hershey Company has a market value of $21 billion.